Triuva has acquired a building complex in Hamburg from a fund managed by CBRE Global Investors, investing around €48m.
The complex consists of four buildings in the Ottensen district linked by an underground car park and covering a total rental area of around 14,000m2. The properties, built in 2007, are within walking distance of the Altona long-distance railway station and are almost fully let. Most of the companies based in the property are consultancy firms from the advertising, communication and IT sectors, thus reflecting the character of the district, which is dominated mainly by creative companies.
Triuva is acquiring the property into a newly established investment limited partnership, acting on behalf of a German pension fund. “The purchase of this core asset in an up-and-coming location offers enormous potential for development and is an excellent fit for our investment strategy. By acquiring it into an investment limited partnership, we are also using a comparatively new investment vehicle and thus emphasising our position as an innovation leader. We are convinced that this structure will continue to establish itself alongside that of the traditional special fund,” said Wenzel Hoberg, CEO of Triuva.
